German logistics specialist Garbe has paid about €70 million for a new 71,000 sq m distribution centre near Breda in the southern Netherlands.
The distribution centre is part of Business Centre Treeport, a 62-hectare business park targeting the tree cultivation sector and 25,000 sq m is pre-let to the BCT Treehub cooperative, which includes 115 tree nurseries, suppliers, consultants and other companies associated with the sector.
The transaction is the second in the Dutch market for Garbe’s GLIF+II investment vehicle and follows the acquisition of a 41,000 sq m distribution centre at Veenendaal on the A12 motorway corridor to the east of Utrecht, another established Dutch logistics region.
Garbe expects to finalise new transactions in the Netherlands for the fund in coming months.
A recent study by Garbe’s research department shows that rents for prime logistics assets in the Netherlands have increased significantly, particularly in Amsterdam and Rotterdam. Regional locations such as Eindhoven, Venlo and Tilburg have likewise reported sharp hikes in rents. Strong demand and rent growth are also giving rise to new logistics zones across the country, particularly in the northern and eastern areas around Almere, Zwolle, and Deventer/Enschede as well as the central Tiel/Geldermalsen and western Waddinxveen regions.